What Do We Learn From Schumpeterian Growth Theory?

This survey builds on a presentation at the Nobel Symposium on Growth and Development (September 2012) and was subsequently presented as the Schumpeter Lecture at the Swedish Entrepreneurship Forum (January 2013). We thank Pontus Braunerhjelm, Mathias Dewatripont, Michael Spence, John Van Reenen, David Warsh, and Fabrizio Zilibotti for helpful comments and encouragements, and Sina Ates, Salome Baslandze, and Felipe Saffie for outstanding editing work. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.